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Micro Economics 1. Discuss the short-run cost-output relations. 2. Write a short note on pure competition. 3. Describe excess profit criterion. 4. Discuss the vario
the conclusion
suppose a firm''s total revenue depends on the amount produced (q) according to the function R= 70q-q2 total cost dependson q: C=q2+30q-q2
Perfect competition: The behaviours of firms in perfect competition. It should be noted that firms that fit into perfect competition model are very rare in real-life situation
Consider the following insurance market. There are two states of the world, B and G, and two types of consumers, H and L, who have probabilities pH =0.5 and pL =0.25 (high and low
net preparation ranjna baghel
Private benefit and social benefit: Bridge the gab between private cost and social cost, and private benefit and social benefit.Under perfect market, there may be a divergence
Suppose scientists discover that eating soybeans prevents cancer and heart disease
mixed strategy
Elasticity of Market Supply • Perfectly inelastic short run supply arises when industry's plant and equipment are so fully utilized that new plants should be built to ac
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